The study examined the role of entrepreneurship in promoting sustainable development and poverty reduction among retired workers in University of Calabar, Cross River State, Nigeria. The study was guided by three objectives and three research questions. A descriptive survey research design was adopted and it was conducted in Cross River State, Nigeria. The population for the study was 283 retirees from University of Calabar (UNICAL), Calabar between 2023 and 2025. There was no need for sampling since the entire population is small and manageable. Structured questionnaire was used for data collection. The questionnaire was face validated by three experts. Also, the reliability of the questionnaire was carried out with Cronbach Alpha method and it yielded a reliability coefficient of 0.8o. Data collection was carried by the researchers and three trained research assistants. Mean and standard deviation were used for data analysis. Results identified twelve (12) roles of entrepreneurship in promoting sustainable development and poverty reduction among retired workers in University of Calabar; fourteen (14) challenges militating against effective engagement in entrepreneurship among retired workers in University of Calabar; and twelve (12) ways of enhancing effective engagement in entrepreneurship among retired workers in University of Calabar. Based on the findings, it was concluded that fostering an entrepreneurial spirit among retired university workers empowers them and also enhance sustainable development within the community. The study recommended that university administrators should establish entrepreneurship training programs tailored specifically for retired university workers, focusing on skill development and business management among others. 

Keywords: Entrepreneurship, Sustainable Development, Poverty Reduction, Retired Workers, University of Calabar. 

Introduction

Entrepreneurship is increasingly recognized as a pivotal driver of sustainable development, particularly in developing countries like Nigeria. The role of entrepreneurship extends beyond economic growth, serving as a catalyst for poverty alleviation, job creation, and social transformation (Akeredolu et al., 2021). In Nigeria, where high unemployment rates and poverty levels challenge social stability, empowering individuals, particularly the retired workforce, through entrepreneurial activities can foster resilience and self-sufficiency (Olufunmilayo et al., 2022).  Retired university workers comprise a unique demographic, rich in knowledge and skills acquired during their academic careers. However, the transition from formal employment to retirement often leaves them in precarious economic situations, leading to increased vulnerability (Oma-Ogbele et al., 2020). Entrepreneurship presents an opportunity for these retirees to leverage their experiences, engage in productive activities, and contribute to community’s sustainable development. Research indicates that entrepreneurship can contribute to sustainable development by fostering innovation, enhancing productivity, and promoting social equity (Babalola et al., 2020; Inegbedion et al., 2021).

Entrepreneurship is the process of designing, launching, and running a new business, typically a startup company offering a product, service, or process (Kuratko (2020). It emphasizes the systematic approach entrepreneurs take when creating a new venture. Entrepreneurship can also be seen as a process of creating sustainable value through the identification and exploitation of opportunities (Pistrui & Frishammar, 2020). This definition introduces two core components: sustainability and opportunity exploitation. Sustainable value creation underscores the importance of creating outcomes that benefit not just the entrepreneur but also society and the environment over the long term, whereas identification and exploitation of opportunities reflects the proactive nature of entrepreneurs. This means recognizing gaps in the market or innovative ideas and effectively turning them into profitable ventures. According to Lyon et al. (2021), entrepreneurship is the innovative process of realizing opportunities and creating social value through innovative solutions. Innovative process here denotes that entrepreneurship is not static; it evolves through creative problem-solving. Realizing opportunities emphasizes the dynamic aspect of recognizing how to address existing societal issues or market needs. Creating social value on the other hand indicates a broader mission for entrepreneurship that transcends just profit-making, suggesting that many entrepreneurs are motivated by a desire to contribute positively to society. This holistic view of entrepreneurship underscores that new ventures can drive both social change, economic growth and poverty reduction.

Poverty is a multidimensional phenomenon that encompasses not only income deprivation but also deficits in education, health, and living standards (Alkire & Santos, 2020). It emphasizes that poverty is not merely a lack of financial resources but encompasses various deprivations that affect an individual's or community's quality of life. Poverty reduction on the other hand involves policies and programmes that promote economic growth, which in turn, contributes to improved income levels for the poor (Easterly, 2020). It highlights the correlation between economic growth and poverty alleviation. Growth in the economy can create job opportunities, increase wages, and mobilize resources that benefit disadvantaged groups, thereby reducing poverty levels. According to Barrientos and Ulrichs (2021), poverty reduction encompasses the establishment of social protection systems aimed at providing safety nets to vulnerable populations. It stresses the importance of social security measures, such as unemployment benefits, food assistance, and health care access, in reducing poverty. Poverty reduction can also be seen as the strategies used for empowering individuals and communities to develop their own wealth and improve their socio-economic situations and enhance sustainable development.

Sustainability is the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs (World Commission on Environment and Development, 2020). It emphasizes the balance required in resource use. It also highlights the necessity of considering future generations in our current practices, stressing that social equity, economic development, and environmental protection should all be considered equally in sustainability efforts. Sustainable development on the other hand is the process of promoting worth and well-being on a global scale while ensuring that future generations will have the capacity to meet their own needs (United Nations, 2021). This brings a global perspective on development while ensuring that optimization of resources can support future pursuits. It intertwines the welfare of current populations with sound practices to maintain the earth's resources, thus creating a universal responsibility. Sustainable development can also be seen as an approach to growth that aims to build a resilient, inclusive, and sustainable future for all (World Bank, 2020). The World Bank’s definition adds the dimensions of resilience and inclusivity to sustainable development. It suggests that the framework for development should support various societal segments and be robust against environmental and economic shocks, ensuring long-term viability for all community members including retired university workers. 

Retirement is a stage in life where an individual chooses to leave the workforce, typically due to age, health reasons, or personal choice (Smith, 2021). This definition underscores the voluntary nature of retirement. It indicates that retirement can be influenced by personal circumstances, social norms surrounding age and work, and governmental policies regarding pension and social security. Retirement can be viewed as a societal construct that reflects cultural attitudes towards aging, work, and idleness (Lee, 2023). It places retirement within a larger cultural and societal framework, indicating how different societies view retirement and the elderly. Retired university workers on the other hand are individuals who have formally ceased employment at a post-secondary institution after a career in academia (Brown, 2020). This definition points out the formal aspect of retirement specific to higher education, emphasizing the end of an academic career and the transition to retirement life, which can include engagement in research, mentoring, or community service. Retired university faculty are individuals who have left their academic positions, often after reaching a certain age or years of service, and may pursue post-retirement activities (Thompson & Hargreaves, 2021). 

Many of the retired workers including retired university workers end up becoming poor after retirements from active service. There is need for retired university workers to embrace entrepreneurship while they are still in active service and upon retirement from service. This would enable them to live above poverty line after retirement from service. Entrepreneurship plays a significant role in promoting sustainable development and poverty reduction, particularly among vulnerable groups such as retired university workers. According to Adedayo (2021) noted that entrepreneurship fosters job creation, which can absorb the economic inactivity among retired university workers. By starting businesses, retirees can generate employment opportunities for themselves and others, thus stimulating local economies. Also, Ekpoh et al. (2020) asserted that retired university workers possess valuable skills and knowledge, and entrepreneurship allows them to leverage these assets, fostering innovation and the establishment of businesses that can contribute to sustainable development. By engaging in entrepreneurial activities, retired workers can create additional income streams. This diversification reduces their reliance on pensions and other fixed incomes, enabling them to better cope with economic fluctuations (Nwokorie & Omoregie, 2022). In addition, entrepreneurial activities often lead to community-driven development initiatives, which retired university workers can initiate projects that address local needs, improving living standards and promoting social cohesion (Osagie, 2021). Retired university workers can channel their resources and experience into initiatives that focus on social issues, thus contributing to sustainable development goals (Eze et al., 2022).

Despite the recognition of entrepreneurship as a key engine for economic growth and poverty alleviation in Nigeria and its demonstrated links to employment, many retirees including former university employees remain economically vulnerable after retirement. The absence of a stable post‑retirement income often leads to dwindling living standards, dependency, and increased poverty risks. Moreover, although entrepreneurship training has been proposed as a remedy, empirical evidence focusing specifically on retired university workers in Cross River State is scant. Without this focused evidence, policy and institutional retirement support programs remain generic and may fail to harness the potential of retirees as contributors to local development. This study filled these gaps by examining the role of entrepreneurship in promoting sustainable development and poverty reduction among retired workers in University of Calabar, Cross River State, Nigeria.